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<p>We recently extended the support SMI provides by offering Universal Credit claimants a loan after three months, instead of nine, and extending to in-work UC claimants. These changes allow more UC claimants to access SMI, and therefore better protect against repossession, than when SMI was paid as a benefit.<strong><em> </em></strong></p><p> </p><p>No comparative assessment has been made. Support for Mortgage Interest (SMI) transitioned from a benefit to a loan in April 2018. The support provided as a loan is calculated at the same level as it was when it was a benefit, therefore it provides the same level of protection for individuals against repossession. Loans are only repayable from any available equity when the property is sold or the claimant dies.</p> |